As the stewards of their company’s coffers, CFOs hold all the power when tech service providers come knocking on their door, promoting their latest and greatest wares. Those who work at small and midsize businesses (SMBs) in particular are increasingly becoming targets for promising offers, with good reason. Unlike the massive, traditional ERP solutions of yesterday, the newest tech trends – cloud computing, mobility, and automation solutions–aren’t just for enterprises. In some ways, they can actually help a smaller business–which can invest in such technologies piecemeal–realize its growth potential.
Operating with tight staffs and budgets–and a dose of stuck-in-their-ways attitude–executives at small and midsize companies often don’t have time to move beyond outdated technologies and consider the next big thing. That’s why some finance departments are still spending hours trading paper invoices with suppliers and some companies haven’t bothered to make a Facebook page, even though it’s free. But when a tech solution comes along that could make their lives easier and the prospects for their company greater, CFOs at businesses of all sizes need to be informed and flexible, whether it means allowing employees to use their own mobile devices for work, signing off on the development of mobile apps, or finally paying attention to social-media platforms.
This CFO Handbook will explore the truth behind these technologies, including the pitfalls, risks, and benefits specifically for SMBs–to give CFOs at these companies the background they need for their next IT signoff. Filled with tips for dealing with suppliers and understanding the questions to ask before signing a contract, the Handbook can be used as a learning tool and a reference guide.
Topics covered in Powering Up for Growth include:
- Ways small businesses can cut back their IT costs to free up their company for more important matters, such as growth.
- Issues CFOs need to consider before their company introduces or expands its use of cloud computing–and whether such an investment is worth it.
- The reason for the decrease in at least some finance departments’ devotion to Excel.
- Options for mitigating the risk of cyber attacks, a high-profile inhibitor to company growth plans.
- Strategies for negotiating with suppliers.
- The limitations and potential of social-media tools.